The year 2023 saw the arrival of many companies in Puerto Rico, as well as the transformation of existing businesses, some legal disputes and even large transactions that filled readers with amazement.
The new day Not only did he share that news, but he also answered important questions about topics — such as those related to housing and solar panels — that undoubtedly have a direct impact on citizens’ quality of life.
Below, we share some of the most-read news this year in the Business section:
1. Jake Paul buys Yadier Molina’s luxury home in Dorado for cash
In May, a boxing promoter and social media personality Jake Paulbrother Logan Paulcaptured media attention after it was announced that he had purchased – in a cash deal – the luxurious residence of the Puerto Rican receiver Yadier Molina, Located in the complex The Legacy Dorado Beach Eastin Dorado. The total amount of the transaction was $15,750,000.
2. The popular chain will open in the location left by Kmart at The Outlets at Montehiedra
The closure of the Kmart supermarket chain has left empty spaces in many malls across the island. However, on January 11, Urban Edge Properties, the owners Outlets in Montehydraannounced that the space occupied by the megastore had been leased to another popular chain and that it would be sharing the space with Ralph’s Supermarket.
3. New stores arrive at Puerto Rico Premium Outlets in Barceloneta
Dozens of new tenants announced their arrival in various buildings Puerto Rico Premium Outlets, in Barcelona. Among some of the new stores that will arrive at the facility, several have been announced, including clothing brands, cosmetics and even restaurants.
4. Plaza Las Américas has been transformed
The Plaza Las Américas shopping center has announced the reconfiguration of some of its spaces to attract new tenants, as well as expanding the range of other brands that are already part of its offer. Among some of the stores that would change, either because their buildings were moved or remodeled, were La Patisserie restaurant and lingerie store Victoria’s Secret.
5. Banco Popular customers receive payment after agreeing to two class actions against the institution
The settlement agreement in two class actions filed in federal court against Banco Popular de Puerto Rico resulted in Disbursing payments to an unlimited number of clients of that financial institution. The total amount of the settlement, or the number of people who benefited from these payments, was not disclosed. The plaintiffs’ arguments centered on how to handle the collection of fees on checking accounts and overdrafts, including fees associated with merchants, among other matters.
6. The Ross chain will open stores in Puerto Rico
Starting in 2024, the department store chain and Marshall’s main competitor, Ross, will open in Puerto Rico and occupy the spaces left by Sears stores. Among the first municipalities to enjoy Ros’ arrival, according to a source from El Nuevo Día, is Caguas.
7. Opening of the largest Denny’s restaurant in Puerto Rico
Marpor Puerto Rico, owner of the Denny’s franchise on the island, opened the 16th store of that chain – and the largest on the entire island – in the Prados del Sur shopping centre, in Santa Isabel. The new store is supposed to be the largest religious store in Puerto Rico, at about 5,000 square feet, and involves an investment of more than $2 million.
8. Costco will put an end to sharing memberships: It will ask its customers to provide proof
Costco store membership holders will no longer be able to continue sharing their cards with loved ones, as the company will begin requiring shoppers to provide a photo ID along with their store ID. This measure was decided following the recorded increase in membership participation with the arrival of the self-payment system.
This announcement also led to people being interested in knowing how accurately memberships work at stores like Costco and Sam’s in Puerto Rico.
9. Housing reveals guidelines for requesting assistance of up to $30,000 for solar panels
In March, it was announced that assistance of up to $30,000 would be provided by the Housing Ministry to install a solar panel system under the program. The new energy generated great interest throughout Puerto Rico Secretary of that agency, William Rodriguezrevealed to El Nuevo Día how the process will work, who can qualify and additional details to receive the funds.
10. How do home auctions work?
Auctions are another way a person can acquire a home in Puerto Rico. This mechanism, in which people or companies compete for the same property, can occur directly with the court, in bankruptcy and foreclosure cases, or through a company that supervises it. El Nuevo Día spoke with several experts and answered questions on this topic for the benefit of readers who are thinking about purchasing their property.
Eleven. FlyDining arrives in Puerto Rico
Access this extraordinary experience. Where customers can eat while suspended 160 feet in the air, which sparked the curiosity of many people on the island earlier this year. Ultimately, in October, it was revealed that the company had chosen Loíza Street as the location to raise the profile of its organization in Puerto Rico. El Nuevo Día also revealed how many people it accommodates, amenities and even dining costs from above.
12. Millionaire lawsuit filed against Mayagüez Mall
Transform Operating Stores LLC, which acquired Kmart and Sears stores in Puerto Rico in 2019, has filed a $1 million lawsuit against Empresas Puertorriqueñas de Desarrollo, owner of Mayagüez Mall, to return $5 million, which was allegedly overpaid during the years Sears worked at the mall.
13. Terminal D of Luis Muñoz Marin Airport reopens and passengers are disappointed with its display
Although Aerostar Holdings announced with great fanfare the opening of Terminal D, which required an investment of more than $14 million, users on social networks criticized the presentation of the renovated facilities. Due to the lack of technology, the discomfort of the chairs and even the general appearance of the area.
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